Short-Run Employment Functions When the Speed of Adjustment Depends on the Unemployment Rate
发现跨国比较中短期就业函数的调整速度与失业率正相关，建立了一个反应系数随失业率变化的非线性时间序列模型，并用八个OECD国家的制造业数据估计，发现变系数模型优于固定系数模型。
A bstratAcross industry and country comparisons have found the speed of adjustment in short-run employment functions to be positively related to the rate of unemployment. The present paper develops a time-series model in which the reaction coefficient varies with unemployment, and estimates it for the manufacturing sectors of the eight OECD countries for which suitable data are available. The new model is non-linear and is estimated using full information maximum-likelihood procedures. Application of the log-likelihood ratio test finds that the new vanable reaction coefficient model is superior to the fixed reaction coefficient model for the United States, Canada, Australia, Austria, Ireland and the United Kingdom.